tv Bloomberg Businessweek Debrief A Conversation With Justin Trudeau Bloomberg April 12, 2019 6:00pm-6:31pm EDT
david: since you have been a leader in the house, you have dealt with three presidents. speaker pelosi: i completely and entirely respect the office of the president of united states. david: there was a tax cut in the first year of president trump's administration. speaker pelosi: this tax bill is a tax scam of the highest magnitude. david: would you call mr. mcconnell and say let's have coffee and talk? speaker pelosi: i don't think he likes coffee. david: you have been vilified by the republicans. speaker pelosi: you have to be prepared to take a punch. >> would you fix your type, please? david: people would not recognize me get my tie was fixed.
alright. ♪ david: i don't consider myself a journalist. nobody else would consider myself a journalist. i began to take on the life of being an interviewer even though i have a day job of running a private equity firm. how do you define leadership? what is it that makes somebody tick? how do you compare the relative pleasure of being the first speaker who is a woman to capturing it again and being the first speaker in 60 years to recapture the speakership? speaker pelosi: when i was running for speaker, the last thing i could never say to someone was vote for me because we should have a woman. you just have to do you would do the best job. when it turned out that i became the speaker, it was quite an hadwhelming feeling that we
broken a marble ceiling in our country. the first meeting i ever went to as leader, not yet speaker but leader, was president bush has president -- as president. when i was going into the white house as leader, it was unlike any meeting i had been to before. in fact, it was unlike any meeting a woman had been to before in the white house because there was a small meeting of the president, leadership, democrat and republican. but i was going in there not as actuallytment, but from the power of my caucus. bush,there and president ever gracious, welcoming. all of a sudden, i was squeezed
in on my chair. it was so crowded, i could barely acknowledge what he was saying. i was so distracted. i realized that sitting there on my seat was where susan b anthony, sojourner truth, alex paul -- they were all there on that chair. i could hear them say, at last, we have a seat at the table. [applause] then, theyosi: and were gone. my first thought was we want more. we want more. david: since you have been a leader in the house, you have dealt with three presidents. president bush, president obama and president trump. so, could you compare their relative different styles? kevin: david: how are they different? speaker pelosi: they are not relative.
i thank you for the question. i think it is an important one from historical standpoint. here is the thing. iesident -- first of all, completely and entirely respect the office of the president of the united states. i respect the people who voted to elect a president of the united states. we work very closely with president bush even though i disagreed with him mightily on the war in iraq. that did not prevent us from working together. president obama, of course as a democratic president, we had a very special relationship. even though it is your own party, you can still have your differences of approach or timing or whatever. david: president trump? [laughter] speaker pelosi: i pray for our country every day, i always have. that there isk
something to be said for judgment,, knowledge, and surrounding yourself with sayle who know -- i would to people when they want to run for office, what is your vision for our country? why, what is your why? why should we be attracted to what you have to say? what do you know about your focus, whatever your vision is? whatever your connection is to the public, your judgment is ,uided by evidence, data, facts knowledge. and, that is a place where we have some work to be done. david: he is not tweeted anything really negative of you and he is not giving you a name. do you feel left out? [laughter] speaker pelosi: we have a courteous relationship. i respect the office that he
holds. he's the president of the united states. i need to say this -- i do think there is some areas we can work together and perhaps that is why we still have a good, shall we say, courteous relationship. and of prescription drugs building the inner structure of america are two areas i had with the president. it is keeping the repoire courteous, respectful. two priorities, the president has assured me that that is something he is willing to do. that is the word i would use. david: you had a well-publicized meeting with the president right before the government shutdown with chuck schumer. the president said he would take the blame if there was a government shutdown. speaker pelosi: probably, probably. david: were you surprised that
later on that was not the case? speaker pelosi: a shutdown of government should never happen, especially one that happened over a period of time. [applause] speaker pelosi: 800,000 people did not get paychecks. whether they came to work or not, they did not get paychecks. to your point of did i think it was going to end up that we would open up government by the president signing the bill that we sent him? yes. you know why, because of public sentiment. abraham lincoln said public sentiment is everything. with it, you can accomplish almost anything. without it, almost nothing. the public sentiment was there. the families, the concerns of people who needed services. david: what is the reason democrats do not want to fund the wall? speaker pelosi: we are about line.ng a campaign, a
there was nothing, serious, scientific evidence-based that a wall was going to be the best way to secure our borders. we are all there to secure our borders. but just because the president said in a speech he was going to have a wall and mexico was going to pay for it, he seemed to forget that. even if they did, a wall is not needed there. from the standpoint of sea to shining sea -- it is not what we relate to other countries, other people. if you want me to, i will start talking about ronald reagan and what he thinks about walls and immigrants. really, we have to be a model to women to not fear any of this. know your own power. be yourself. go out there and fight the fight because you know your why.
david: in the old days, 20 years ago, freshmen members of congress were generally thought to be quiet for a few terms. they were not supposed to say very much. that seems to have changed. is it difficult to manage the caucus with freshmen members who get so much attention? speaker pelosi: no, it is a joy. it is what our founders intended. elections every two years. [applause] speaker pelosi: i have to say because i am really proud of it. in the congress of the u.s., this congress, we have over 100 women members of congress serving at the same time. over 100 members. [applause] david: there is a tax cut in the
first year of president trump's administration that the democrats opposed. now that you are in control of the house, are you going to try to reverse that or do anything to pass any tax legislation? speaker pelosi: the ways and means committee will review the, what we do about taxes in a larger sense. so many people come to us, whether it is institutions of higher learning, other philanthropics -- we can only just fix this. we are saying we have to really look at the whole tax bill and see what the decisions will be made as we go forward. it is important to note this however -- this tax bill is a tax scam of the highest magnitude. this has to be revisited not just because of the unfairness of it, but also the impact it has had on the budget. could we have worked together to
get an appropriate lowering of the corporate rate an impact on the economy. no, speed of light, dark of night, pass a bill with no hearings so the ramifications were not well known to the american people. david: what is it like to be a long with the senate side? can you just called mitch mcconnell and say let's have coffee and talk about how things are going? speaker pelosi: i don't think that much coffee. david: sit down and have some chocolate or something like that. speaker pelosi: maybe a box of chocolate as a welcome gift. i --d to him, my kids and we made an agreement that if someone gives you a box of chocolate as an active sincerity, you open it and start eating the chocolate. otherwise, they think you are going to regift it. [laughter] speaker pelosi: since you mentioned chocolate, i could not
resist. it is one of my passions. i have a good repoire with leader mcconnell because we were both appropriators. we can get along, even though we have major differences. david: in recent years, you have been vilified by the republicans and people of the right. in the most recent campaign, 132,000 ads were used just using your name. does this elevate you? [laughter] david: has this been so difficult for you to be vilified or do you take pride in the fact they recognize you are very powerful? speaker pelosi: my goddaughter told me -- hi, katie. katie sent me something on my phone that i read this morning. it said "your power is the reason your opponents come after you" or something like that. example toet an
other women not to the too shy about things and assert yourself, take credit, and the rest of that. if i were not effective, they would not be doing these ads. if they did not have -- [applause] i just know how to do this because that is what i was doing. i was legislating. i have a following in the country that supports me at the grassroots level and across the board, so they have to take me down. i have to show other women we are in an arena. once you get in that arena, you have to be prepared to take a punch. or prepared to throw a punch too. really, we have to be a model to women to not fear any of this. have no fear.
know your own power. be yourself. go out there and fight the fight because you know your why. you know why you decided to get into the arena. you know what you care about. you know how to get a job done. and, you can draw support from other people. that is why they come at me. if i were not a threat, they would not take out 132,000 ads against me during the campaign. but, we won a very decisive victory. david: many people in the democratic party a running for president. you probably know all of them. and, you would never consider running for president, correct? or did you? speaker pelosi: no. i did not consider running for congress. david: many of them have positions -- speaker pelosi: that does not mean people have not suggested. david: i assume they come by and
ask you for your advice. you are not going to support anybody before the party nominates. will you support before the party picks some of the? body. speaker pelosi: let me endorse everyone by saying they bring such values, such strategic thinking, such optimism and confidence in what they believe in. but i don' think -- don't tell anybody -- i do think the person who will emerge will be those who connect. i said vision, knowledge and judgment, strategic thinking. who connects. david: president trump and his administration negotiated a revised agreement. it has to be approved by the congress before it goes in effect. do you think the house of representatives will approve that deal? speaker pelosi: we have to see it first.
i voted for the original map zo ne. i took a lot of heat for doing it and i had a lot of disappointments. the four things we have to make a judgment about -- one, what are the environmental considerations? the workers rights in both countries is important. members are concerned about how pharmaceuticals are treating it. whatever is agreed to in those three areas, the most important element of a trade agreement is enforced. if you don't have enforcement, nothingyou ain't got because it is a conversation, just a list of things. i felt like this would be easy. david: it is. speaker pelosi: no, the trade agreement. david: ok. [laughter] david: oh. the questions are easy. speaker pelosi: i believe you with a thought.
david: halliburton was a good friend of yours. when she was on her deathbed, she asked you to run for congress. have you ever thought of running for congress and what did your children say when you said you were going to run for congress, and your husband? speaker pelosi: here is the thing. i had no interest. in our family in baltimore, maryland, my father was in congress. first grade, he became the mayor of baltimore. when i was at trinity college, he was still the mayor. the only life that we knew. we were born into a family with the valley catholic, seriously
patriotic americans. proud of our italian-american heritage. staunchly democratic. that connection between our faith and how exercise our belief in the gospel of matthew were how we just treated people with a spark of divinity. each of them having worthy of respect for all of god's children. that is how we were raised, to have responsibility to other people. that is what our parents instilled in us. i wouldver ever think ever want to run for office. however, i did volunteer in the democratic party to support other candidates. i never knew that sala would want me to run for office. but when she did, i was ready. i say to people, know your power . count everything you have done, including being a mom, maybe
starting with. know your talents. be yourself. authenticity is everything. be yourself. and be ready. be ready. david: you got elected. you had three children. living in washington then, and you said to them, we can all now live together in the house. speaker pelosi: in georgetown. david: what did your children say? speaker pelosi: they said, me, you- she says to have to make me feel better. son, i have never even thought about running for office. i'm shy. [laughter] so, i go home: and talk to my kids. i only had one at home, alexandra. mom had the opportunity to run for congress.
i don't know if i will win, i just know i have the opportunity to run for congress. i love my life, i love being here with you. if you want me to stay, it would be easier if you are one more year in college, but if you want me to be here. threeise, i will be gone nights a week of the week. any answer is fine. i honestly mean that. yes, no, i'm happy either way. mother -- i knew i was in trouble right then. mother, get a life. i never heard the expression before. get a life. my teenage girl would not want her mother gone three nights a week. so, yes. when i go to washington, i said we could all live together and this and that. mother, we love our siblings.
not only do we not want to live with you, we don't want to live with each other. they are in college so they live with their friends. in you're in congress, we're college. why don't you just forget we are in the same city? [laughter] speaker pelosi: boo-hoo. david: it must of been a thrill. your father and mother was still alive. they came to see you sworn in. speaker pelosi: my father was on the floor of the house when i was sworn in and that was pretty exciting. he died a few months later. i was so lucky he was there to see that. david: you obviously enjoy the job. how many more years may you do this? 10, 15, 20? speaker pelosi: you think that i saiding to -- recently, he there is nothing as liberating
as term limits. [laughter] speaker pelosi: you just do what you do. david: so you might do this -- speaker pelosi: i'm on a mission, i'm not on a timetable. david: your proudest achievement legislatively, would that be the affordable care act you kind of shepherded through the house? speaker pelosi: the formal care act, david, this is like a pillar. social security, medicare, medicaid, the affordable care act. not only 20 million people more had access to health care which we were very proud of, but everybody in our country getting better benefits whether it is no pre-existing condition, limitation on access, or ending annual caps. being a woman, no longer pre-existing medical condition. i can tell you as a mother of five -- i thought it was a sign
of strength. they consider it a pre-existing condition. david: what would you want the american people to know about nancy pelosi? speaker pelosi: my why, in terms of what i went from the kitchen to the congress, from housewife to house speaker. is one in five children who live in poverty. concern andlove and all that we give to our children. to me, it is a disservice to every child in america to not be sure every child in america has the opportunity. i just leave you with the thought. this country is the greatest country that ever was. anything, butnd we all have a responsibility. thomas payne said times have bound us. toes have bound us nonow
channel diversity, differences of opinion in our country, and always keep taking it back. what i want them to know about me is the reason i left home, the reason i get up every morning to go into the fight is one in five children who live in poverty. david: thank you for a very interesting conversation. [applause] ♪
scarlet: i am scarlet fu. this is bloomberg etf iq, or be focused on the access, risks and rewards offered by exchange traded funds. ♪ scarlet: all hail saudi aramco. but while companies the latest example of corporate seeing more demand for their debt. swamp data funds are catching some of the assets. we take a look at how china fits into the global trend. and are reports greatly exaggerated? an etf that goes long in